Measuring Customer Satisfaction for Customer Relationship Management Activities Perform by Indian Commercial Banks in Surat City

Abstract

The primary purpose of this paper is to measure customer satisfaction for CRM activities perform by Indian Commercial Banks in Surat city. The other purpose is to measure overall customer satisfaction with the services provided by top 3 Indian private and top 3 Indian public commercial banks in Surat. Qualitative methods were used to develop the scope of research to study customer perception. This research study is descriptive in nature. The most appropriate method for selecting the target population is the sampling method of non-probability comfort followed by stratified sampling technique. Of the 1,200 questionnaires distributed, 973 questionnaires were finally considered to correctly analyze the data. Appropriate statistical tools and techniques were used for the research study. Factors were found to differentiate performance based on types of banks. For the reliability of private banks, the response elements and the marketing mix have a great relationship with overall satisfaction, as well as an important relationship between overall customer satisfaction and loyalty. For public sector banks, there is an important relationship between the elements of collateral and the marketing mix, the overall satisfaction of customers, and the overall satisfaction and loyalty. ICICI is the leading bank in terms of performance from a customer perspective and among the public sector bank BOB (Bank of Baroda) which has performed much better than other banks. With the researcher the researcher tries to establish a relationship between customer satisfaction and effective management of the customer relationship. The researcher concludes that for some factors, there is an important relationship between CRM and overall customer satisfaction and an increase in the customer base. Therefore, the management of banks is encouraged to implement CRM programs so that they can take advantage of the current competitive business environment.